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Kuraray Co., Ltd. (President: Fumio Ito; Headquarters: Chiyoda-ku, Tokyo) today announced the establishment of a new Polyvinyl alcohol ("PVA") resin production facility at its U.S. subsidiary Kuraray America, Inc. (a wholly owned subsidiary in Texas). Details are provided below.
Background of the Facility Establishment
- The establishment of this new facility is in line with the Kuraray Group's global strategies for its core business of vinyl acetate and PVA-related products.
- Following on business expansion in Japan, Singapore and Europe (Germany), this move will secure a fourth advantageously situated production base for the Group, in this case, in North America where shale gas is easy to procure.
- Based on proprietary Kuraray production techniques, four production bases can sustainably offer high-quality products on a global scale.
- The new facility will be able to meet demands for markets in North America and burgeoning Central and South America.
Overview of the New Facility Establishment
| Location | La Porte, Harris, Texas, the United States (land for facility has already been purchased) |
|---|---|
| Production capacity | 40,000 tons/year in the first phase |
| Schedule | The completion of facility construction is planned for September 2014 |
| Notes | For this investment which creates certain number of new jobs, Texas Enterprise Fund is granted by the State of Texas (Governor: Mr. Rick Perry) and Harris County Tax Abatement is granted by Harris County Commissioners Court. |
Overview of Kuraray America, Inc.
| Company name | Kuraray America, Inc. |
|---|---|
| President | George Avdey |
| Capital | US$10.1 million (100% investment by USA Kuraray Holdings U.S.A., Inc.) |
| Employees | Around 210 |
| Principal businesses | Production and sale of ethylene vinyl alcohol copolymer (EVOH resin) and thermoplastic elastomers as well as import/export and sale of chemical and textile products |
| Location | 2625 Bay Area Boulevard, Suite 600 Houston, Texas 77058-1551 U.S.A. |
